February 1, 2023

Intel CEO Takes 25% Pay Cut. It Could Be a Sign of the Times.

Intel

Chief Executive Officer Pat Gelsinger is taking a 25% pay cut just days after the semiconductor maker’s poor fourth-quarter results.

After two years in the top job, he’s not the only one at the company to take a hit.

Intel

(ticker: INTC) executive team members will see their base pay reduced by 15%, senior managers will get a 10% cut and mid-level managers’ pay will go down 5%, The Wall Street Journal reported. The firm is also trimming matching 401(k) contributions for employees.

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